April 2019

Editorial

Dear Readers,

This GvW International Newsletter deals with the new “Brexit Tax Accompanying Act" ("Brexit-Steuerbegleitgesetz") and its consequences in labor law regarding the scope of protection against termination for Bankers and also its consequences in German tax law.

In this issue we report on the free trade agreement between Japan and the EU, which is also the largest free trade area in the world is established.

We also comment on a new ruling of the Federal Supreme Court of Justice which has decided that the dissemination of secretly made photographs in a museum on an internet page is illegal and that has granted the affected museum a cease and desist claim.

You will also find in this issue information from our Istanbul office on the new exceptions to the foreign currency contract prohibitions in Turkey.

Intellectual Property

Tax Law

Turkey Desk

No protection against termination for bankers?
Brexit is coming – status today – within the next weeks. Competition for professionals is supposed to be accompanied by restricting the protection against termination for bankers. On 21 February 2019, the German Parliament adopted this with the "Brexit Tax Accompanying Act".
more

Brexit – Tax aspects!
The repeated rejection of the so-called "Brexit-Deal" by the British Parliament makes a “No-Deal-Brexit” probable. The United Kingdom would then leave the European Union without any multilateral transitional agreements.
more

Free trade agreement between Japan and the EU takes effect – the largest free trade area in the world is established
The JEFTA, the abbreviation for Japan European Free Trade Agreement, entered into force on 1 February 2019. JEFTA is to date the most important agreement of its kind for the European Union (EU). According to the EU Commission, European exports will grow as a result of JEFTA by up to 24%. Agriculture exports will grow by as much as 180%.
more

The end of secret filming and photography
The Federal Supreme Court of Justice [Bundesgerichtshof, "BGH"] has held in a current judgment that the dissemination of secretly made photographs in a museum on an internet page is illegal and that has granted the affected museum a cease and desist claim.
more

Turkey: Exceptions to the foreign currency contract prohibitions
In order to prevent devaluation of the Turkish Lira, the Turkish administration has issued a presidential decree dated 12 September 2018 (the “Decree”) establishing restrictions on agreements denominated in foreign currencies or indexed to foreign currencies if such agreements are concluded between individuals and/or legal entities residing in Turkey.
more